Specialities Roundup

02 May 2005 00:01  [Source: ACN]

Clariant has signed a joint-venture deal to produce high-performance organic pigments at a new plant in Hangzhou, near Shanghai, China. However, the company declined to reveal the split of ownership in the venture; neither did it disclose the capacity or cost of the proposed plant. But a spokesman said the plant should be operational within 12 months. He added that Clariant would have production technology control in the venture, would appoint the general manager of the business, and had exclusive rights to market the pigments locally and worldwide though its distribution network.

Rohm and Haas (R&H) has reported a 39% increase in its 2005 first-quarter earnings on higher product prices. It said earnings were US$159m or 70 cent/share, up from US$114m or 1 cent/share from the year-ago quarter. The results included a 5 cent/share after-tax loss for the early retirement of US$400m in debt, R&H said. It reported Q1 sales of more than US$2bn, a 10% increase over the same period of 2004, mainly because of higher selling prices. It said sales in its coatings business of US$624m represented a 10% increase over the same period in 2004, while performance chemicals sales were US$404m, up 7% over Q1 04. Monomers sales of US$477m were up from US$298m in Q1 2004. Adhesives and sealants sales were up 10% to US$193m in Q1 2005.

Rhodia was considering capacity expansions for virgin polyamide 6,6 and adipic acid in Brazil, said Antonio Sergio Luvizeto, the company’s Latin American director for polyamide intermediates and polymers. He said Rhodia intended to expand its virgin polyamide 6,6 capacity in Santo Andre, São Paulo state, by about 3000 tonne/year to 15 000 tonne/year. The size and timing of the expansion of the 80 000 tonne/year adipic acid in Paulinia, São Paulo state, were still under discussion.

Eastman Chemical has completed the sale of its stock in US biotech firm Genencor International to Danisco for US$419.8m in cash. The transaction was concurrent with Danisco’s acquisition of the outstanding publicly held shares of Genencor stock in a separate transaction. Both companies had held 42% of Genencor’s common stock.

Wacker Chemie is to expand capacity for polysilicon capacity at its Burghausen, Germany, site by 2500 tonne/year. This will take annual capacity at the site from 5000 tonne/year to 9000 tonne/year by 2007. The Euro200m (US$259m) project was designed to meet ‘the dynamically growing global demand for hyperpure polycrystalline silicon used to manufacture solar cells,’ said chief executive Peter-Alexander Wacker. In 2004, the global solar silicon market grew by more than 50%.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly